Izhmash, possibly the world’s most famous arms manufacturer, has filed an application for bankruptcy with the Russian courts. Pravda reports …

Izhmash, the pride of the nation’s defense industry, may prove to be an unprofitable enterprise. Udmurtia’s Court of Arbitration will look into the financial documents of the group of enterprises of Izhmash Concern. If reasons for bankruptcy are unveiled, Russia’s largest maker of firearms will have to be reorganized. >

Izhevsk owns the designs and trademarks of many different guns including:

• AK-47, AK-74, AKM and AK-100 series.
• SVD Dragunov sniper rifle.
• Tigr rifle (civilian SVD).
• Saiga rifles and shotguns.

I asked Max Popenker, well known author and owner of world.guns.ru, about the situation. Max told me that the upper management of the company has been absolutely useless for years. He thinks eventually the government will save the company, but he is not optimistic about its future.

If you were thinking about buying a Saiga rifle or Saiga-12 shotgun. I suggest you buy it right now.

Many thanks to Jay for alerting me to the situation.